14/03/2025 13:48:52
Freehill Mining (FHS) has announced a significant turnaround in its financial performance for the first half of FY2025. The company reported revenue of $1.245 million, a 527.8% increase from the $198,338 recorded in the prior-year period. This substantial growth in revenue has also led to a material improvement in the company’s total comprehensive loss, which narrowed to ($88,357) from ($830,302) in H1 2024. The strong performance is attributed to accelerating momentum at Freehill’s fully owned Yerbas Buenas (YB) mine in Chile, driven by growing demand for input materials from major Chilean cement and construction companies. Freehill has focused on expanding its waste material operations at YB, procuring necessary equipment, optimizing logistics, and strengthening customer relationships. The company is now well-positioned to meet increasing demand from infrastructure projects in the region. Freehill Chairman Ben Jarvis highlighted the hard work of the management team and on-site staff in capitalizing on the market opportunity in Chile. With a reliable cash-generating business established, Freehill plans to unlock value from high-priced commodity opportunities, complementing its materials operations and also further investment in its magnetite operations and additional exploration at the Cu-Au focused El Dorado project. The company anticipates further revenue growth in the second half of FY2025, supported by a robust sales pipeline for premium material products.